Customs duty compliance: What’s there to worry about? – 9 August 2017
Recent customs duty compliance information published by the Australian Border Force has highlighted several issues that should be of concern to any business importing trading stock, inputs to manufacture or other goods used or consumed in their operations. This raises the question: are businesses paying enough attention to their customs obligations?
Customs duty compliance remains a key focus for the Australian Border Force in 2017, and should be front of mind for any business importing trading stock, inputs to manufacture or other goods applied or consumed in their operations. In addition to highlighting several specific compliance issues currently being targeted by the Australian Border Force, this Tax Insight also examines whether businesses who outsource their customs duty responsibilities to customs brokers are paying close enough attention to their customs duty obligations and the customs-related issues affecting them.